You need to feel out your seller and determine if this is someone you want to partner with.

IE - if any units are receiving Section 8 vouchers or other forms of housing assistance, Freddie & Fannie only look at the tenant paid portion of rent when determining whether or not the unit is Mission Driven @ 80% AMI levels.For example, let’s stick to the 2-bedroom $2500 Mission Driven 80% AMI cutoff example above.

In any disputed court action where the court resolves the dispute and determines the prevailing party, the court shall also award to the prevailing party its reasonable attorneys’ fees and costs and the non-prevailing party shall be liable to the prevailing party for payment of any court awarded attorneys’ fees and costs.

If the building (original purchase) is fully depreciated the improvements and repairs you make to it in year 28 still need to be evaluated to determine if you need to depreciate it or not. 

LTV would be determined by the type of loan.

Line of Credits (like HELOCS) allows access to a set amount of money up to a pre-determined limit and it is revolving.

We'll see where it goes either way I am determined to design build something to make into a successful STR business.oh yeah and currently taking a major L on QQQ shorts that I was probably too early into.

If a dishwasher is 15 years old and the tenant destroys it, you can't really charge them much because the appliance is beyond the life expectancy.To learn how to determine charges for cleaning and repairs, you can read my book in my signature, Brandon Turner's Managing Rental Properties, or NOLO's Every Landlord's Legal Guide.

Hi Michael, I have found value investing in Cleveland, OH because it is home to Cleveland Clinic, lot of good neighborhoods, landlord friendly laws, stable appreciation and good cash flowing properties.

However, that doesn’t mean there’s no demand for affordable rentals—you just need to determine if your home fits the local rental market.